Do I need experience to operate a Idea Lab franchise?
No. We provide a complete training program including marketing, operations, accounting and technology training.
Can I operate a Idea Lab franchise with no educational background and still keep my regular full-time job?
Idea Lab requires entrepreneur spirit. However, if you do not have the flexibility to run classes, in-school field trips, camps and birthday parties, then you will have to hire a manager who must attend our training week in Houston, TX. Taking annual one-week training (no charge) to keep upto date on various educational techniques.
What kind of methodology is used by Idea Lab?
It's about exploring the world together and supporting children's thinking rather than just giving them ready-made answers. Teaching method we use are
TPR© (Total Physical Response) Method
Reggio Emilia Method
Project Based Learning
Our curriculum is build primary using seven learning styles we use Spatial, Auditory, Linguistic, Kinesthetic, Logical, Social and Solitary
Why should I not try it on my own?
We have honed our operations to give our franchisees the best possible opportunity for success. Why risk it on your own when you can leverage our expertise and experience? So why have the competition when you can be the only one operating such a business?
We continuously evolving you will have access market research like no one else, cutting edge marketing material. FOR YOU, this means we have the experience, the expertise and credibility to help you deliver the very best product in your market.
What are the revenue streams?
We are continuously evolving you will conduct Pre-K drop-in classes, birthday parties, workshop, field trip, school day off camps, after school classes, afterschool pickup curriculum, lego legues, elementary school classes.
Will you help me in marketing?
Yes. We will provide a proven marketing package specifically for your territory, as well as production and strategic assistance with your on-going local marketing efforts. We will also provide training and technique to work with your local school and organization.
What makes a successful Franchisee?
There are three elements to any successful franchise relationship: a great Concept, a good location/territory and a great operator. We have the first element, and we’ll help you find the second. The real key is always the operator. YOU as a Franchisee, make all the difference. A Franchisee that is willing to follow a proven system, and is committed to excellence, consistency, and constant, positive communication with his/her students and community will always have great success.
How soon can I be in business once I have executed a franchise agreement and located a mutually accepted site?
You can be open for business generally within 30 to 60 days after your training has been completed. Okay, I’m ready to open my first Idea lab® franchise.
How long before I start to make money?
There are so many variables that go into answering this question. One of the major variables when calculating "time to cash flow positive" is debt service. Some franchisees open learning centers with no debt, while other franchisees may take out loans for 70% of the total investment required. We encourage you to speak with our existing and/or former franchisees to learn more about the length of time it took them to reach the point where their learning center was cash flow positive. We will help you with finding location and building contracts with YMCA, local community center to get your cash flow started before you open your center. You can start working with Mobile birthday parties and after-school classes immediately to start your cash flow immediately.
How much does an Idea Lab franchise cost?
Depending on whether you choose a single unit or multi-unit opportunity, the fees, and initial investment will vary. A single business unit license begins with a franchise fee of $17,500 (Base)-$25,000 (Plus) based on territory size.
Option 1 – Idea Lab Learning Center: The estimated initial investment of a single unit Idea Lab, including the franchise fee, learning center build out and working capital, is between $176,700 and $228,700.
Option 2 – Home-Based Opportunity (Maximum up to 18 months ) and Moving to Idea Lab learning center: total investment could be $35,000 to $55,000 mostly depending on your first 3 months of operating cost.
A breakdown of this investment is located in Item 7 of our Franchise Disclosure Document (FDD). A multi-unit franchise opportunity is also available
Is this a growing industry?
Yes, in most parts of the country childcare and education services are growing. In fact, the Small Business Administration recently named both the childcare and education industries in their "Top Ten" categories for growth.
Can I have a protected territory?
Yes. The formula for calculating protected territories is outlined in the Franchise Disclosure Document (FDD).
Can I purchase more than one territory?
Yes. In-fact Idea Lab is seeking business owners who are interested in growing multiple retail units.
How long does it take to get started?
The official start of your business begins with the opening of your learning center, which is typically 4-12 months after signing the franchise agreement but will vary depending on a number of factors, namely, your commitment to finding and building out a site and the availability of local real estate. One of the benefits of the Idea Lab business model is that you are able to start generating revenue even before the opening of your learning center and official start of your business.
How can I learn more?
By filling out the brief form in “Getting Started Page”. We will then contact you to provide you with our Franchise Disclosure Document and help you learn more.